1. to determine in advance whether someone meets the requirements or standards for something, especially a loan or program
Usage: often used in financial contexts

Examples

• The bank will prequalify you for a mortgage before you start house hunting.
• Students must prequalify for the scholarship program by submitting their transcripts.
• The lender prequalified us for a $300,000 loan based on our income.
• You can prequalify online to see what interest rates you might receive.
• The company prequalifies all contractors before adding them to their approved vendor list.
• Getting prequalified helps you understand your budget when shopping for a car.